European Commission President Ursula von der Leyen stressed that Europe must eliminate internal obstacles to its competitiveness if it wants to become a "true global giant."
Speaking to the European Parliament the day before the summit, von der Leyen raised concerns about the excessive fragmentation of the European financial sector and the need for greater economic integration.
“Our businesses need capital immediately. We need to do this this year,” she said, stressing the importance of completing the European single market and removing any barriers that restrict economic activity in the European Union. The Commission President also called for progress on free trade agreements and the simplification of regulations to unlock the region’s economic growth potential.
